B. Riley Wealth Management Inc. sells 161 shares of Automatic Data Processing, Inc. (NASDAQ: ADP)


B. Riley Wealth Management Inc. reduced its position in Automatic Data Processing, Inc. (NASDAQ: ADPGet a rating) by 10.7% in the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The institutional investor held 1,349 shares of the business services provider after selling 161 shares during the period. B. Riley Wealth Management Inc.’s holdings in automatic data processing were worth $307,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also increased or reduced their stakes in ADP. Norges Bank acquired a new stake in Automatic Data Processing during Q4 for a value of approximately $566,438,000. Aaron Wealth Advisors LLC increased its stake in Automatic Data Processing by 23,114.1% in Q1. Aaron Wealth Advisors LLC now owns 1,481,057 shares of the business services provider worth $6,509,000 after purchasing an additional 1,474,677 shares last quarter. Mackenzie Financial Corporation increased its interest in automatic data processing by 1,386.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,531,541 shares of the business services provider worth $377,647,000 after buying an additional 1,428,484 shares last quarter. BlackRock Inc. increased its stake in automatic data processing by 2.6% during the 4th quarter. BlackRock Inc. now owns 31,994,621 shares of the business services provider worth $7,889,233,000 after buying an additional 817,884 shares last quarter. Finally, State Street Corp increased its stake in Automatic Data Processing shares by 2.0% in the 4th quarter. State Street Corp now owns 18,427,297 shares of the business services provider worth $4,562,432,000 after buying an additional 357,520 shares in the last quarter. 78.84% of the shares are held by institutional investors.

Changes to analyst ratings

A number of brokerages have weighed in on ADP recently. Citigroup raised its target price on automatic data processing from $212.00 to $230.00 in a Monday, May 2 research note. Cowen raised its target price on automatic data processing from $225.00 to $230.00 in a Thursday, July 28 research note. Mizuho raised its target price on automatic data processing from $250.00 to $257.00 and gave the stock a “buy” rating in a Monday, August 1 research note. Cowen raised its target price on automatic data processing from $225.00 to $230.00 in a Thursday, July 28 research note. Finally, Deutsche Bank Aktiengesellschaft raised its price target on automatic data processing from $203.00 to $234.00 in a Thursday, April 28 research note. Nine analysts gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $235.92.

Insiders place their bets

In other news on automatic data processing, VP Donald Weinstein sold 10,150 shares in a trade on Monday, August 8. The stock was sold at an average price of $250.00, for a total transaction of $2,537,500.00. Following the sale, the vice president now owns 41,035 shares of the company, valued at $10,258,750. The transaction was disclosed in an SEC filing, available at this hyperlink. In other news on automatic data processing, VP Donald Weinstein sold 10,150 shares in a trade on Monday, August 8. The stock was sold at an average price of $250.00, for a total transaction of $2,537,500.00. Following the sale, the vice president now owns 41,035 shares of the company, valued at $10,258,750. The transaction was disclosed in an SEC filing, available at this hyperlink. Also, Vice President Augusto J. Blanchard sold 567 shares of the company in a trade on Tuesday, July 5. The stock was sold at an average price of $210.64, for a total transaction of $119,432.88. Following the completion of the transaction, the vice president now directly owns 4,238 shares of the company, valued at approximately $892,692.32. Disclosure of this sale can be found here. Insiders of the company own 0.34% of the shares of the company.

Price performance of automatic data processing

Automatic data processing stock opened at $259.82 on Monday. Automatic Data Processing, Inc. has a 12-month low of $192.26 and a 12-month high of $261.59. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt ratio of 0.93. The company’s 50-day simple moving average is $225.61 and its 200-day simple moving average is $219.57. The company has a market capitalization of $107.96 billion, a price-earnings ratio of 37.06, a PEG ratio of 2.69 and a beta of 0.84.

Automatic data processing (NASDAQ: ADPGet a rating) last reported results on Wednesday, July 27. The business services provider reported earnings per share (EPS) of $1.50 for the quarter, beating the consensus estimate of $1.47 by $0.03. The company posted revenue of $4.13 billion for the quarter, versus a consensus estimate of $4.05 billion. Automatic Data Processing has a return on equity of 66.25% and a net margin of 17.87%. The company’s quarterly revenue increased 10.5% year over year. In the same quarter a year earlier, the company posted earnings per share of $1.20. Sell-side analysts expect Automatic Data Processing, Inc. to post EPS of 8.05 for the current year.

Automatic data processing announces a dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1. Shareholders of record on Friday, September 9 will receive a dividend of $1.04 per share. The ex-date of this dividend is Thursday, September 8. This represents an annualized dividend of $4.16 and a dividend yield of 1.60%. Automatic Data Processing’s dividend payout ratio is currently 59.34%.

Automatic data processing profile

(Get a rating)

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic cloud-based platforms and human resource (HR) outsourcing solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ: ADP)



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